Accountants are the first port of call when a business wants to pivot, grow, downsize or sell, reinforcing the profession’s collective value as a constant source of advice and support.
It’s an exciting prospect for accountants. Playing such a pivotal role in their clients’ BUSINESS professional lives allows firms to move away from simply crunching numbers and transition to a business advisory role.
Clients expect accountants to be proactive about their needs, promptly reply to enquiries and often cry out for more value-adding services. As such, accountants are required to wear many hats.
Clients no longer want their accountant to be ‘functional’ just crunching numbers and doing tax returns. They’re seeking someone that will be ‘vital’ to their business, help them increase turnover, drive growth and become more efficient in an increasingly competitive business environment.
Here are some ways accounting firms are becoming ‘vital’ and helping clients accelerate business growth.
1. Talking about more than tax
Changing up client conversations. Becoming vital to a client’s business requires you to talk about more than tax. Advisors that have nailed this have specific structures and even scripts in place to deliver the right information at the right time.
2. Finding out what’s important
Implementing a separately identifiable business advice product specifically designed to dig into a client’s business. Investigating what’s important to them, what’s working, what’s not. Providing clarity to both advisor and client on what advisory services are needed confidence for the client to invest in those services.
3. Structuring advisory services
Building, structuring and offering powerful business advisory services and products to clients on an ongoing basis instead of just taking an ad hoc approach.
4. Holding client information sessions
A regular offering of client information sessions providing clients with accurate, up to date information that affect their business. Investing in your client’s business acumen, not only makes your job easier but turbo boosts client relationships and is a great value-add for clients.
5. Become a business leader
Leadership starts with you, then your team, then your clients. What you learn and experience, the good, bad and the ugly, is directly transferable to your clients sharing this information with them is highly valued.
With this in mind, we have hand crafted a number of comprehensive workshops that will help you put the above steps into action with skills and strategies you can start using immediately. Stop dreaming, start doing!